Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.4% | 50.7% | 52.7% | 52.7% | 42.1% | 39.1% | 35.6% | 34.7% |
| EBITDA margin % | 18.8% | 23.3% | 21.7% | 27.5% | 16.6% | 15.4% | 13.8% | 13.8% |
| EBIT margin % | 15.5% | 18.9% | 16.6% | 23.4% | 11.9% | 9.4% | 7.8% | 8.2% |
| PAT margin % | 9.7% | 13.1% | 11.9% | 18.8% | 8.3% | 6.6% | 4.7% | 5% |
| Working capital | ||||||||
| Receivable days | — | — | 69 | 76 | 54 | 50 | 43 | 81 |
| Inventory days | — | — | 161 | 151 | 97 | 109 | 108 | 86 |
| Payable days | — | — | 104 | 54 | 40 | 52 | 95 | 112 |
| NWC days | — | — | 126 | 173 | 112 | 107 | 55 | 55 |
| Leverage | ||||||||
| Current ratio | — | — | 0.98 | 1.39 | 0.89 | 0.96 | 0.84 | 0.83 |
| Debt to EBITDA | — | — | 2.66 | 1.16 | 2.64 | 3.26 | 3.77 | 4.23 |
| Debt to equity | — | — | 0.73 | 0.38 | 0.58 | 0.6 | 0.67 | 0.82 |
| Interest coverage | 4.2 | 6.3 | 8.3 | 14.3 | 4.7 | 2.9 | 2.1 | 2.1 |
| Asset turnover | — | — | 0.57 | 0.72 | 0.76 | 0.66 | 0.66 | 0.64 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.8% | 13.6% | 6.4% | 4.3% | 3.1% | 3.2% |
| Return on capital employed % | — | — | 14% | 26.2% | 12% | 9.5% | 8% | 8.8% |
| Return on equity % | — | — | 15.1% | 22.3% | 11.1% | 7.9% | 6% | 7.1% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.